Confluence Investment Management LLC Has $26.52 Million Stake in General Dynamics Co. (NYSE:GD)

Confluence Investment Management LLC lowered its stake in General Dynamics Co. (NYSE:GD) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 87,746 shares of the aerospace company’s stock after selling 1,010 shares during the quarter. Confluence Investment Management LLC’s holdings in General Dynamics were worth $26,517,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Portside Wealth Group LLC raised its position in shares of General Dynamics by 7.6% during the third quarter. Portside Wealth Group LLC now owns 5,908 shares of the aerospace company’s stock worth $1,785,000 after acquiring an additional 419 shares during the last quarter. Consolidated Planning Corp increased its position in General Dynamics by 1.3% in the third quarter. Consolidated Planning Corp now owns 20,606 shares of the aerospace company’s stock worth $6,227,000 after purchasing an additional 267 shares during the period. Western Pacific Wealth Management LP bought a new stake in General Dynamics during the 3rd quarter worth about $76,000. Hara Capital LLC acquired a new position in General Dynamics during the 3rd quarter valued at about $26,000. Finally, Olstein Capital Management L.P. boosted its stake in shares of General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein cut their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Susquehanna lifted their price objective on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

GD opened at $306.08 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The company has a market capitalization of $84.16 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 1.78 and a beta of 0.61. The business’s 50-day moving average price is $301.25 and its two-hundred day moving average price is $295.38. General Dynamics Co. has a 1 year low of $238.31 and a 1 year high of $313.11.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.04 EPS. Equities analysts expect that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.